Dollar struggles in APAC

– Greenback recovers from lows –

The prospect of higher rates also helped lift the greenback off a 15-month low, with the US currency recovering Friday against the yen and the euro, and holding the bulk of the gains in forex trade Monday.

Ongoing political turmoil in Washington has cast doubt on President Donald Trump’s ability to push through an agenda aimed at boosting growth and dented the dollar against its major peers.

The outlook for the dollar is still uncertain, market watchers warned.

“Given typical August liquidity conditions, we could be in for a bumpy week as the market irons out if we’re in a short term USD correction or a trend reversal,” said Stephen Innes, who heads Asia-Pacific trade at forex firm OANDA.


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Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes